WCG Wealth Advisors LLC Purchases 48,657 Shares of Shopify Inc. $SHOP

Key Points

• WCG Wealth Advisors LLC increased its Shopify stake by 216.3% in the fourth quarter, buying 48,657 additional shares and bringing its holdings to 71,149 shares worth about $11.45 million.
• Shopify’s board approved an additional $3 billion for share repurchases, expanding the total buyback authorization to $5 billion. The move is generally seen as supportive for the stock and a sign of management confidence.
• Despite some recent volatility, analysts remain broadly positive: Shopify has a Moderate Buy consensus rating with an average price target of $157.17, and the company recently reported revenue and earnings that beat expectations.

WCG Wealth Advisors LLC grew its position in Shopify Inc. (NASDAQ:SHOP - Free Report) TSE: SHOP by 216.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,149 shares of the software maker's stock after acquiring an additional 48,657 shares during the period. WCG Wealth Advisors LLC's holdings in Shopify were worth $11,453,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Moloney Securities Asset Management LLC raised its stake in Shopify by 1.8% in the 3rd quarter. Moloney Securities Asset Management LLC now owns 3,951 shares of the software maker's stock worth $587,000 after purchasing an additional 70 shares in the last quarter. Seros Financial LLC boosted its stake in shares of Shopify by 2.7% in the 3rd quarter. Seros Financial LLC now owns 2,856 shares of the software maker's stock valued at $424,000 after purchasing an additional 75 shares during the last quarter. First Affirmative Financial Network boosted its stake in shares of Shopify by 3.4% in the 3rd quarter. First Affirmative Financial Network now owns 2,275 shares of the software maker's stock valued at $338,000 after purchasing an additional 75 shares during the last quarter. TBH Global Asset Management LLC boosted its stake in shares of Shopify by 1.2% in the 4th quarter. TBH Global Asset Management LLC now owns 6,438 shares of the software maker's stock valued at $1,036,000 after purchasing an additional 75 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Shopify by 13.9% in the 2nd quarter. Smartleaf Asset Management LLC now owns 631 shares of the software maker's stock valued at $72,000 after purchasing an additional 77 shares during the last quarter. Institutional investors own 69.27% of the company's stock.

Shopify News Summary

Here are the key news stories impacting Shopify this week:

• Positive Sentiment: Shopify’s board approved an additional $3 billion for share repurchases, lifting the total authorization to $5 billion. Buybacks can support the stock by reducing share count and signaling management confidence in the business. Shopify Board Approves Expanding Share Repurchase Program to US$5 Billion
• Positive Sentiment: Analyst and momentum commentary remained favorable, with Zacks highlighting Shopify’s earnings and price momentum and noting continued investor interest in the name. Shopify (SHOP) Boasts Earnings & Price Momentum: Should You Buy?
• Positive Sentiment: Third-party product activity continues to build around Shopify, including a new payment rewards application for merchants and a Shopify Payment Extension added to EMTWerx 2.0, reinforcing ecosystem expansion. RealFi Announces Development of XRP Ledger-Powered Payment Rewards Application for Shopify Merchants
• Neutral Sentiment: Shopify resolved a roughly two-hour outage that affected storefronts and checkouts. While the issue was fixed quickly, it may have reminded investors that platform reliability remains important for merchant confidence. Shopify Resolves 2-Hour Outage Impacting Storefronts and Checkouts
• Negative Sentiment: Some articles pointed to broader volatility and recent profit-taking after a sharp move higher, suggesting investors may be locking in gains rather than chasing the stock immediately. Why Shopify (SHOP) Stock Is Down Today

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Shopify from $165.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, May 6th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $170.00 price objective on shares of Shopify in a research note on Wednesday, May 6th. Weiss Ratings lowered shares of Shopify from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, May 6th. TD Cowen raised shares of Shopify from a "hold" rating to a "buy" rating and set a $159.00 price objective on the stock in a research note on Wednesday, February 11th. Finally, Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $126.00 price objective (down from $181.00) on shares of Shopify in a research note on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, thirty-one have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $157.17.

Shopify Stock Down 3.5%

Shares of NASDAQ SHOP opened at $112.94 on Thursday. The firm has a market cap of $146.56 billion, a PE ratio of 111.82, a P/E/G ratio of 3.28 and a beta of 2.60. Shopify Inc. has a 12-month low of $94.00 and a 12-month high of $182.19. The company's fifty day simple moving average is $114.73 and its 200 day simple moving average is $133.18.

Shopify (NASDAQ:SHOP - Get Free Report) TSE: SHOP last issued its earnings results on Tuesday, May 5th. The software maker reported $999.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $998.78. The business had revenue of $3.17 billion for the quarter, compared to analyst estimates of $3.08 billion. Shopify had a net margin of 10.77% and a return on equity of 12.07%. On average, equities analysts predict that Shopify Inc. will post 1.36 earnings per share for the current year.

Shopify Company Profile

Shopify is a Canadian commerce technology company that provides a cloud-based platform for businesses to create, manage and scale online and physical retail stores. Its core offering is a software-as-a-service e-commerce platform that enables merchants to build customizable storefronts, manage product catalogs, process orders, and handle inventory. Shopify also supports omnichannel selling through integrated point-of-sale (POS) systems for in-person transactions.

Beyond storefront software, Shopify offers a range of merchant services and tools designed to simplify commerce operations.

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